Cyprus: Trade balance deficit recorded surge of 154 million during the first 5 months of the year

Cyprus: Trade balance deficit recorded surge of 154 million during the first 5 months of the year

Agricultural exports at 57 million euros

By Michalis Michael

Cyprus’ trade balance deficit recorded an increase of 154 million euros during the first five months of the year, compared to the corresponding five-month period of 2018.

According to figures released by the Statistical Service, total imports of goods for the January – May 2019 period totaled 3,345,4 million euros compared to the 3,818,7 million for the January – May 2018 period.

Total exports of goods during the same period amounted to 1,447,8 million euros, compared to the 2,075,1 million in the corresponding period last year; therefore, the trade deficit stood at 1,897,6 million euros during the first five months of the year, compared to the 1,743. 6 million during the same period in 2018.

Regarding total exports of domestically produced products, without ship and aircraft supplies included, the figure stood at 512.7 million euros for the January – May 2019 period, compared to the 593.6 million during the January – May 2018 period. Furthermore, the total domestic exports of industrial products for the January – May 2019 period totaled 448.6 million euros, compared to the 530.4 million during the January – May 2018 period.

Total domestic exports of agricultural products for the same period amounted to 57.3 million euros, compared to the 56.3 million during the same period last year. /ibna